She said that all the railroad men
Just drink up your blood like wine

from Bob Dylan – Stuck Inside of Mobile with the Memphis Blues Again Lyrics on Rap Genius

Meaning

Old-timey America reference drawn from the folk song “Careless Love”:

Don’t you marry a railroad man. (2x)
A railroad man will kill you if he can,
And he’ll drink your blood, drink it like wine

It could also be about Albert Grossman, Dylan’s draconian manager (see next annotation).

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